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tv   Bloomberg Markets Balance of Power  Bloomberg  February 12, 2020 12:00pm-1:00pm EST

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hampshire, to our tv and radio audiences worldwide, i'm david westin. welcome to "balance of power" where the world of politics meets the world of business. on the brief today, bernie sanders rise and joe biden's fall. michael mckee in new york on jerome powell second day of testimony, and sophie kim rooted in hong kong. -- and sophie kamaruddin in hong kong with the latest on the coronavirus. what does new hampshire tell us about what comes next? biden wasells us joe the weakest front runner and is no longer the front runner. bernie sanders and pete buttigieg are clearly competitive. amy klobuchar had a good night but it will be difficult for her to catapult herself into the top slots given the amount of time she has. david: what are we finding out about voter turnout? ryan: i checked before we went on air.
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we are at about 295,000. that is above what the new hampshire secretary of state had predicted, even accounting for population growth, it is closer to what you saw in 2008. that should be some solace for democrats who were concerned about the low turnout in iowa that there was an enthusiasm cap. one thing to keep in mind is that independent voters can show up in the democratic primary. may be bolstered by them. david: this is "balance of democrats like for people to show up and vote for the candidate because it means they are invested. power" on bloomberg television david: we hear joe biden had a and radio. bernie sanders edged out pete conference call with his supporters today. buttigieg here in new hampshire it would be interesting to listening in on. last night. ryan: it will be interested to the top two finishers were the same in iowa. listen before the conference we welcome the former head of call. david: who is best positioned to the new hampshire democratic party, kathy sullivan. going to south carolina? ryan: the biggest thing that she now serves as a democratic national committee woman. also with this are our happened overnight is one of the big unions in nevada put out a contributors jeanne zaino and some questions rick davis.
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politicalovered many about medicare for all and bernie sanders and even boosting campaigns, including successful runs in new hampshire for john mccain. amy klobuchar a little bit in the flyer. that is not quite an endorsement, but it is a sign i guess congratulations, you got a result. kathy: yes we did. that a key voting block in we are very happy about that, nevada could be up for grabs. david: that is the issue of and the results started coming in earlier than i anticipated. private insurance. paula neri workers said we like i'm beingis also, our private insurance. ryan: not all of the unions feel told, the closest primary new that way, but the culinary hampshire history. pete buttigieg was very close. close, and also workers in nevada have a goldplated planet they have senator sanders has the smallest fought a long time for. david: thank you for reporting margin or almost the smallest margin of any winner in new from new hampshire. now let's go to michael mckee hampshire primary history. new york. a second day of testimony from the chairman of the fed. what did we hear today that was different? rick: that is telling about the competitiveness. let's talk about the turnout. michael: that would make for a short report. not a lot different. the difference in tone from the after i awoke, where it was flat, people were talking about senators but not a difference in terms of the substance from what it was like in new hampshire. it looked like you were just questioning from the house yesterday. the senators trying to make under 300,000 voters. excited withe so political points that their policies are better than the others. the turnout we had.
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unemployment. on it was high. it shows the enthusiasm of new the way you would describe jay hampshire voters, generally, it powell today is reassuring. he heard the senators. shows the enthusiasm of our he agreed more needs to be done democratic voters. to help people at the lower it showed why new hampshire is income and yes, there have been the first primary. improvements in wages and there our voters are engaged. is improvement in the they finally made their minds up. unemployment rate. rick: they waited late. kathy: they finally did. the fed will do its best to keep all of that going. david: that is because it was there were questions we did not required by law. get yesterday on regulatory [laughter] issues, particularly on the repo jeanne: the biggest surprise of side, a follow-up on one of the suggested vice-chairman randall the night for me was amy klobuchar. coral had suggested to make it speaking of these late to easier for banks to turn in sizer's, -- of these late treasuries for repo if they need cash. deciders, she was the the chairman seemed to endorse that idea, which would be they beneficiary of that. what do you make of that? new hampshire rights -- new can the banking system. hampshirites are saying the it may be a new standing repo debate made a difference. kathy: the debate made a facility. if you look at anything that might affect the industry, that difference. as people are making their minds might be the answer you are looking at today, the rest, as up they tend to think what his last big thing i heard, and that debate was last thing a lot of will rogers once said, is all
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people saw. applesauce. that is what they remembered as david: it struck me that one they walked into vote. thing that was common is the fed debates are always big in new hampshire. chair saying we cannot do it all. in 2008 it was big for hillary some of these issues require clinton. other people step up. here we have another big moment i was interested in labor force and it did matter. participation rates in comparison with other countries, and he said we have fallen david: you have a role in the behind a lot of other countries in our education rates. dnc for the national campaign. someone has to do something to are you concerned about the educate our workers if we want apparent rift between the to catch up in the labor sector. michael: that has been a theme moderates and the progressives? .hat seems to be the storyline of his throughout the testimony. there's a lot the government can bernie sanders has the mantle for the progressives and the do to improve potential growth moderates are split. does that give you any pause? in the united states, raising the labor force in raising along thingsgo productivity. that would require additional spending on things like will continue to clarify. education and infrastructure. we have a good group of that is not the fed's job, that candidates, very competitive. is member of congress job. the next round will have their say. i think it is great we have a whether they were listening is the question. david: that is a different lot of good candidates who have question. stepped forward. thanks to michael mckee from new york. now we go to sophie kamaruddin what happened with republicans. in hong kong about the spread of they had a lot of candidates in the last election. the coronavirus. it went on and on. give us an update. is the growth leveling off? we ended up with donald trump as sophie: based on the numbers we president. if history means anything, this
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are seeing from the province, could be good for the democrats. the last narrative for that would seem to be the case with the number of reported cases declining. there is some doubt being cast year has been all of the energy is's's on bernie sanders and over the transparency of chinese elizabeth warren side, look at data and in a commentary how the energized left took over published in the last medical the process. journal, we have a piece indicating preliminary genetic last night was a completely different story. data was made available two bernie sanders barely held his counties. weeks before the public release. pete buttigieg cut into that. while we have the world watching he also cut into elizabeth as to what china may do, we have warren's counties along the the u.s. senate looking to have massachusetts border. it used to be a stronghold for a briefing wednesday morning both of them. together, the moderates clearly eastern time with representatives from the fda among the federal agencies to be outvoted the progressive left. esent in the house energy and do you see a rise in the commerce committee will be holding a hearing with the u.s. narrative that it is the moderates are taking control of this process? health secretary at the end of split isthink the this month. whether or not the cases emphasized too much. have thedemocrats, we are glowing more slowly than before, the cases continue to go through. same fundamental philosophies about equal justice, social justice, racial justice, equal what is being canceled over there at this point? economic opportunity, health sophie: the chinese grand prix care, climate change.
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jeanne: what about health care has been postponed. it was scheduled for april. -- rick: what about health care? there is a potential for the eventong rugby, a mega a big debate right now. for the city, to be confirmed pete buttigieg made it a central point and bernie sanders shot back. officially postponed by they do not see on health care. tomorrow. we are seeing concern around a kathy: we agree everyone should conference in barcelona, whether have access to good health care. rick: there is always some that will be canceled as well. a lot of consternation to be common ground. kathy: we differ on the details had. but we have a lot more in common there is still a lot of impact across the economy on the than we have driving us apart. mainland and elsewhere. no matter who our nominee is, seeing many chinese beaches the party will come together. remain ghost towns and shoppers remain at home. end,e time we get to the factories taking time to go online. david: thank you for all of your whoever our nominee is will be great reporting from hong kong. able to draw in enough independents and enough that is our colleague sophie kim rooted in hong kong. -- sophie kim rooted in hong republican support to offset anybody who may feel their candidate has been left out. kong -- it does not look like jeanne: i know you are a supporter of elizabeth warren the markets are very worried and we just heard when we were coming on another neighboring about bernie sanders. abigial: that is one of the stories we are following. politician, deval patrick has take a look at the gains in the suspended his campaign. are you seeing anything on the major averages. horizon in terms of elizabeth the s&p 500 and the row, hittinw warren, vice president biden,
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all-time highs. anymore winnowing on the horizon given their performance last we also have oil higher, bonds night, which was obviously lower relative to bernie problematic for both of them? sanders. kathy: senator warren has a there is a storyline that as long as he is leading the field national campaign. of democratic candidates, that she has 1000 people on the is good news for president trump ground across the country. and good news for the stock i like to use the analogy of the market, investors not worried. new england patriots, down 28-3, you make some adjustments, and you can also talk about the the fight was on. coronavirus and the idea it has elizabeth warren, she persists. pete, and the impact on the [laughter] global economy will not be as rick: she will play in nevada severe as had been thought last week when there were declines, and the caucuses might be better for her. or the week before that. picture. a south carolina, not sure what kind of a match that is for a new england liberal in the party. that is true when we use the bloomberg imap. what happens when she gets to 10 of the 11 sectors are higher. super tuesday and she has not garnered any delegate count or only consumer staples is down. up top, consumer discretionary has not placed in the top two? kathy: super tuesday is three up 1%. energy up 1%, being helped out days after south carolina. by the oil rising. a lot of states have started health care just fractionally. voting or they will be voting in the next couple of weeks. returning to bernie sanders, california has already after he has won the new
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started. kathy: i think everyone stays in hampshire primary, we have big until super tuesday. i think you will see elizabeth gains for a subsector. warren do much better. all of the managed care she persists and i'm looking companies up in a big way. forward to it. david: in november we will not bernie sanders is a proponent of just elect a president but the medicare for all. the idea many investors and representatives and a third of the senate. from your position on the d&c, traders think he is unlikely to be president trump would be good what you need to help those candidates, and let's talk about news for these managed-care companies. the people who are first year seeing big gains on the day. david: the markets are taking it people who come from all in stride. trump-leaning districts? thanks to abigail doolittle. kathy: we need someone who will now we go to mark crumpton in inspire voters, who will new york for bloomberg first word news. capitalize on the anxiety and mark: as we have been reporting, the feelings people have in this bernie sanders has tightened his country about donald trump, but grip on the democratic party's to also present a compelling liberal wing. alternative vision. he turned back challenges by that is what we need so our moderate can testers to win the congressional candidates, our new hampshire primary. sanders received about 26% of governors, our senatorial the vote. pete buttigieg was a close candidates have a ticket they can be a part of and just move second, followed by minnesota senator amy klobuchar. forward together as a unit. it will be important for us to have a unified party when it massachusetts senator elizabeth warren and former vice president gets to november. joe biden finished well behind, rick: the november thing is a in the single digits. the cruise ship that was barred
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good question. from topping in four countries we have mike bloomberg entering the democratic primary in the found a place to disembark. super tuesday states. the more than 2200 people on today he is opening up an board. operation in new hampshire assuming he will be the nominee, operator say the vessel will i suppose. dock in cambodia on thursday. he is ready to go to battle the ship was turned away by thailand, taiwan, japan, and the against donald trump in new hampshire today, as he has done in eight other targeted states. philippines based on fears those on board could spread a virus happen you need to see that originated in china. in the interim while everyone the line says there are no confirmed cases on the ship. else is focused on picking the next nominee, what will happen iskish president erdogan in new hampshire to make it a winning state? kathy: thank you michael vowing to drive russian backed syrian forces from the last rebel stronghold. erdogan is escalating his bloomberg that you're coming in with 14 staff members. he has good people he has hired threats against damascus after being strengthened by rare to run this effort. a lot of people unemployed public support from the united states. hity erdogan threatened to syrian targets anywhere if as of today. kathy: exactly. ryan mahoney, he was chief of turkish troops are harmed again. at least 13 turkish soldiers staff of the mayor, really good people. their job is going to be to have been killed by syrian artillery fire this month. build a compelling case against air pollution from fossil fuels donald trump, talk to democrats, is costing the world $8 billion
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a day according to greenpeace. and talked independence and s who moderate republican the group says that is 3.3% of global gross domestic product, are looking for an alternative. this is nothing but good for our about $2.9 trillion per year. party to have another greenpeace says china, the organization helping us. united states, and india are the i'm excited about this. david: thank you so much for biggest polluters. coming back with us. the report estimates that fossil fuel pollution causes up to 4.5 that is kathy sullivan, former chair of the new hampshire democratic party. million premature deaths each we want to remind you michael year. bloomberg is the founder and global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 majority owner of bloomberg lp, journalists and analysts in over our parent company. 120 countries. crumpton. will be staying this is bloomberg. with us. coming up, an exclusive interview with bp ceo bernard david? david: thanks so much. coming up, the new hampshire looney. we will check out his company is results are in. weathering the global slump in oil prices. party what we learn from last night. this is "balance of that is coming up next. on bloomberg television and radio. ♪
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david: this is "balance of power" on bloomberg television
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and radio. i am david westin in manchester, new hampshire. our stock of the hour is ph, the owner of brands like tommy hilfiger and calvin klein. they are the latest manufacturer to warn the coronavirus may impact its operations. theial: last time -- david: last time i checked the stock is up. abigial: it is in greed. -- it is indeed. even though the coronavirus is affecting their operations, they have been able to reaffirm the full year view. behind the ability to reaffirm the full year view, they also own not just tommy hilfiger but calvin klein. they have a lot of stores in china. most are stores -- most are closed. the stores that are open have greater traffic. greater china with 7% of the revenue in 2019. 16% of sales in asia-pacific. 20% of the company's goods are made in china, so they have quite the amount of exposure to china.
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the fact they are able to keep the view they had ahead of this tragedy is seen as good news. shares are popping higher. they weathering the coronavirus downturn? was it thought it would not last that long? abigial: it is not clear. this is just a mid-quarter update. they would be reporting in march. while this is a near-term issue around china, long-term they expect china to be a growth driver for them. we have more details on the true impact in march. right now able to keep the full view. david: thank you so much. abigl doolittle, next, big interview, bp ceo looney joins us. that is coming up on bloomberg. ♪ hi! we're glad you came in, what's on your mind?
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what about wireless data options for the family? of course, you can customize and save. can you save me from this conversati ♪ david: from manchester, new hampshire this is "balance of power." i'm david westin. for news we go now to new york and mark crumpton. mark: opec is feeling the pain
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from the coronavirus. the cartel has slashed forecasts. fuel useeak has curb in china. that leaves opec facing a renewed glut. he reduced projections for demand growth in the first quarter by one third. boris johnson is criticizing the u.k.'s extradition treaty with the united states has imbalanced . his government continues to demand a diplomats wife who fled the country following a fatal car crash. u.k. politicians have complained about the extradition treaty, which came into force under tony blair's labor government and the 2007. pope francis is not saying whether he will approve the ordination of married men to address a shortage of priests in the amazon. the pontiff sidestepped the issue that has dominated debate in the catholic church recently.
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urged bishopsis to send missionaries to the amazon. former massachusetts governor deval patrick has dropped his bid for the white house. patrick entered the democratic race just three months ago. he is ending his campaign after failing to secure 1% of the vote in the new hampshire primary. patrick was the last black presidential candidate in the contest for the democratic nomination. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i am mark crumpton, this is bloomberg. thank you so much. oriole has had a rough start to 2020 with crude tumbling 15%. steel is ine alix london for a interview with one
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of the leaders in the energy sector. the new ceo of bp. alix: i am here with bernard looney. the new ceo of bp. for the a huge plan company over the next 30 years. takes for joining me. , have youo ask you noticed for what kind of demand dropout have you noticed? the first thing i think is the coronavirus is a human tragedy. over a thousand people have died now. we have a large business in asia. we have accounted for all of our .eople nobody has been acted our thoughts go to the people who are impacted. , i think the question on everybody's mind is how long this will last.
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our cfo last week said that the impact could be in the region of 300 to 500,000 barrels a day. i think time will tell. first of all, it is a tragedy and second of all the question is duration. that will determine the impact on gdp worldwide and on supplies. alix: the question in the market has been will opec help and have some kind of supply cut? forecast to the ability of opec to manage the market and support prices at 50? i think a lot of people spend a lot of time trying to debate what might happen and what will happen. alix: that's why i have a job. bernard: it's something i don't try to spend a huge amount of time on. the coronavirus is a great example. we just don't know what the future holds.
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we don't control the price. hope we do control is our cost base. hope we do control is our breakeven. that is what we are focused on. bp is fortunate enough to be in a place where we are coming into a. of time for we have a lot of projects coming online. projects, 23 35 already online. we are entering a. where we will have access free cash flows. our breakeven will continue to go down over the coming years. that is what i'm focused on. making sure we build an increasingly resilient business. for all the reasons we have talked about, the future is unpredictable. we do control our cost base. alix: shall got hurt in the ad earnings. they modeled their plan on $65 oil. next 30 you model your
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year outlook that you unveiled today, what oil prices that depend on? bernard: anybody that is trying to predict the price of oil, i think, is on a fools errand. alix: you need to run your models for cash flow. bernard: i can tell you what we are doing. over the next couple of years -- in fact, in 2021 will drive the breakeven down to $40. we believe that is a resilient price that enables us to withstand a variety of environments. we run all sorts of scenarios. we run 60, $70 scenarios. we may run higher scenarios. nobody quite knows what the future does look like. what we are trying to test is how does it look in a range of scenarios and how resilient is the portfolio? alix: all of this ties into the plan you unveiled. what you drove harm -- drove home is, it is dividend and it
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is the energy transition. the three things you are committed to. there is a lot of skepticism among investors that you can do all three at the same time. bernard: i understand. i think we have been listening to our shareholders. as i said earlier, people want to stick get our gearing back into range. people want to know that the dividend is protected and is secure. andle want us to invest in partake in the energy transition. depending on what investor you were talking to and depending where you are, the order of those priorities may change. we question for us is, can deliver all three? i fundamentally believe that we can. i think there is a sense out there that investing in the energy transition is somehow adding more capital to the system. what i said earlier today is that we are absolutely committed
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to capital discipline. our current range is $15 billion to $17 billion. i made clear we do not need to see that number rises and that when we come back with our strategic update in september, that will be the capital guidance for the company. the question is the allocation of capital. what i also said is that over time is you can expect the p2 invest more into low to no carbon businesses. at the same time you can expect investment into oil and gas to come down over time. checkat is not is a blank to go and spend money. we have been very clear. invest into new businesses if we can generate scale. we can actually add something as bp -- otherwise an investor can buy a stock on their own -- and
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we can generate a competitive return. that is the framework. it is not a question of how much you are going to spend. it is the quality of the opportunity. alix: does that imply a bearish view on oil? bernard: i think the future for any commodity is a great question. i don't know. people have tried to predict the future of the price of our product, and i think they have invariably got it wrong. hope we do know is that oil and gas will be needed by society for decades to come. -- don'tny scenario just look at the bp energy outlook. look at the ipcc reports. exist in thewill system for decades to come. the question is, how do we de-carbonized them over time? gas in particular is a great
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fuel which will help and enable the transition. but over time they have to be decarbonized. alix: what i'm trying to get at is if you walk forward 20 years and all of a sudden you have a super cycle in the oil, our shareholders going to want to go to exxon? bp, is more pure oil than which is then diversified and has more alternative energy? you are not going to get that same boost from your stock in that way. bernard: i think about that the following way. today there is a concentration of oil and gas in our portfolio. will bers shareholders well served by a diversified bp. a bp that has a very high quality oil and gas business. an oriole and gas business that, over time, is likely to get smaller. and a business that is overtime
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likely to be decarbonized. ics building and growing new low or zero carbon businesses. businesses that we can add unique value to. let's take wind. it is a competitive market. the question is, can bp add something to wake -- to a offshore wind business? i believe we can. we have one of the world's largest trading enterprises and a digital platform on which all of this is based. that is the sort of opportunity i believe we can play in. overtime, concept of, a smaller oil and gas business that is decarbonized and growing a new low carbon business. alix: does that mean you're going to sell oil and buy wind assets? bernard: we will come back to the market in september with the next installment in what the
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next stage of the journey looks out a directionve of travel. every journey, including the one we make in our car, the first thing we do is dial-in the destination. that says where we are headed. today we laid out by destination for bp. we sat by 2050 we will be a net zero company. not just on our emissions, but the carbon content of our upstream production. we said we would work very hard to help the world get to zero. the devil is in the details, clearly. we have work to do to fill in those details. we do have a direction, it has been set, it is, i think, quite different. you sell some oil assets and then someone else
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develops them, how is that going to help the world? i think it is a question that people ask. peers and ourselves over time have been selling and buying oil and gas assets. the question is, does that help the world? today we said we have five aims to get to net zero. five aims to help the world get to net zero. we are doing a lot of work in that space. today we talked about advocacy, we talked about corporate app for sizing -- talked about corporate advertising. i would say that if we take some of the proceeds from any such -- i am not announcing any new disposals today -- if there are proceeds from that, some of that can be used to invest into new technologies. alix: how does this square with
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your 20% stake in rosneft? bernard: we have been in russia for 30 years. we have a deep strategic relationship with rosneft. rosneft is doing a lot in this space. more than many people might imagine. i would encourage people to look at some data. published its first sustainability report in 2006. it has improved each year since then. i would encourage people to look at where they put sustainable development goals at the core of what they talk about. they are actually on a carbon intensity, better than bp on some measures. they have driven methane intensity down by 40%. they have established a subcommittee focused on sustainability. recently an executive from bp
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gone into rosneft to focus on carbon. this is a company that is focused on this issue. we all start from different starting points, their direction of travel is clear and it comes to what they want to do with their environmental performance. alix: i'm sure you have had conversations with igor, what are they? is he like, i'm totally on board with you or is it reticence? bernard: as i say -- i think i have made it clear -- this is a company who is focused on this agenda. we are very focused on this agenda. we may have different starting points, the direction of travel is clear. i think there is as much for us to learn as there is for rosneft to learn. alix: thank you very much. david, i will send it back to you. david: great interview.
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alix steel, she is the anchor of daybreak america. democraticere, the field for president looks a lot different from the way it did a couple of months ago. we are going to be joined by scott ferson of liberty square on what the new hampshire primary has done to the race. this is "balance of power." ♪
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♪ this is "balance of power." i am david westin. hampshire primaries may have had some surprises. but not for the republican governor, who predicted at least some of what happened. >> have a lot of folks way to the last couple of days to make up their mind.
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i think that is going to give amy klobuchar a lot of opportunity to search. and not be so great for elizabeth warren or joe biden. david: here is scott ferson. he is liberty square group president and former press secretary for ted kennedy. welcome. governor, he said it might look good for amy klobuchar. that was very prescient. scott: you could get the sense last week that something was moving for amy klobuchar. any conversation i had with people, people would say i like her. elizabeth warren, ih warren. a year ago, if you did not get in in new hampshire -- a neighboring state. hampshire have been kind to people from
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massachusetts. i'm not sure how she recovers from this. at a time where amy klobuchar is capturing the moderate wing of the party. david: deconstruct a little bit the biden phenomenon. he declared early in his campaign. he was up in the polls. he spent a month and a half in iowa on the tour. he put tv money up in new hampshire. but not enough to make an impact. as -- i think he spent a little over $300,000. then left early. is that anyway for someone who is saying, my entire premise for being in this race is my electability? fort: you have sympathy this tremendous amount of goodwill for the former vice president. he is very well-liked him up but you have to give a reason why you are running. based on your resume, i think it is not quite enough when you have bernie sanders -- the
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interesting thing about bernie sanders as he has not changed for the times. then you get amy klobuchar, who really hit her stride. i think he collapsed. i think she was a benefit from it. >> you just mentioned on bernie voted for5% of voters somebody else. and 60% of people chose in that moderate lane, amy klobuchar, pete buttigieg. do you say the democrats who are struggling with this electability issue and who feel there is this tension in the party between these progressives and these moderates? and the moderates seem to have the numbers on their side. scott: i think if you say that it makes the bernie supporters' heads explode. [laughter] even at the party dinner on saturday night the judge spoke,
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the bernie sanders people were pulling him. -- booing him. after spoke yesterday was independents.- even if it ends up being bernie -- our, we have to message has to appeal to moderate voters. problem is,igger they may just stay home. it is not clear they will rally around another candidate. scott: i think you have hit on it. it is a lose lose proposition for the democrats with bernie sanders. if he gets the nomination he alienates the 75% if he doesn't, -- already, he has won the first two contests and they are power -- they are crying foul.
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they are girding up for that kind of a fight. >> party discipline is everything. republicans nominated donald trump in a field that allowed trump to vector off of other candidates. that's got to be the concern everybody has about bernie. do you think there is enough juice in the party leadership? sensitivity in the candidates themselves to realize that splitting up the vote that you described as in distributed on the moderate side is bad for the party and ultimately bad for the presidential campaign? scott: i think there's no juice in the democratic party leadership. i don't know who that might be. in the same way that donald trump and bernie sanders in 2016 were two sides of the same coin. i think now the election is different. trump is in there.
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maybe the time has passed bernie sanders by. not in the way that these things skew activist and progressive, but more in the general election. it could be that his time was four years ago. david: many thanks to scott ferson. we are going to be having more with scott coming up at 1:00 p.m. this is "balance of power." ♪
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♪ it will get to final thoughts now. days, predict one thing that is going to happen. >> i think the gloves are going to come off between pete buttigieg and amy klobuchar. david: that is interesting. you would like that, reckitt. >> i doubt it is going to happen. mike bloomberg spends another $100 million on the air in 14 states and he rises to second in
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the national polls next to bernie sanders. david: bloomberg the founder of our company, just to remind everybody. many thanks to our bloomberg contributor's. treat being with them. coming up, they're going to stay with us for a second hour. we are going to have balance of power continuing on bloomberg radio. we're going to talk to bill weld. this is "balance of power." ♪
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scarlet: this is "bloomberg etf iq." ♪ scarlet: tough market. negative headlines abound but nothing sticks to big cap stocks. i have the storm -- protesters target blackrock. in seeking shelter can provide big returns if you are targeting homebuilders.
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